I dunno man, the first version sounds pretty damn close to complete as it is- the minimal arrangement fits the lyrics and the melody like a glove- good key, a little bit downtempo, plenty of space for the listener to appreciate the tone of that acoustic, and the way it interacts with the single voice. It all coalesces into a really nice, bittersweet tune. If anything, I'd lobby for paring it down further- just that guitar and the one vox. The point at which the group stuff comes in, that'd be just as weighty with a little more belting from the lead vox. Like, singing hard enough to get a little gritty. Bottom line: there's just no need to garnish such a strong melody.

In terms of V2- goddamn, I love the space you've gotten out of that instrumental arrangement. Those effects are used really nicely. But it lends a certain sense of incongruity to the subject matter. Given the key change, increase in tempo, additional voices- might as well just leverage all that into another song.

My two cents, anyhow. Hell of a song, I think it just kind of speaks for itself.